PODCAST: Williams Mullen's Benefits Companion - Exploring the Value of Qualified Default Investment Alternatives
Legal Alert | DOL Opens ESG Door: What Does It Mean for Plan Fiduciaries?
PODCAST: Williams Mullen's Benefits Companion - What Constitutes Plan Assets Under ERISA?
Corporate Fiduciaries Holding Cryptocurrency - Digital Planning Podcast
Legislation Discussion with PA State Senator Tom Killion
Discussion of PA’s Revised Uniform Fiduciary Access to Digital Assets Act
If you serve on a retirement plan committee, you’ve taken on an important and legally significant role. As a fiduciary under the ERISA, you are personally liable for the decisions you make regarding the plan. That’s not a...more
Two recent class action lawsuits charging a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) have increased the stakes and raised important considerations regarding a plan fiduciary’s duty of...more
On April 17, 2025, the U.S. Supreme Court issued a unanimous opinion in Cunningham v Cornell University, addressing the pleading standard applicable to prohibited transaction claims under the Employee Retirement Income...more
The United States Department of Labor (DOL) has released Field Assistance Bulletin 2025-01 (the Bulletin), providing much-needed guidance to fiduciaries of retirement plans covered by the Employee Retirement Income Security...more
Key Takeaways - In October 2024, SCOTUS granted review of Cunningham v. Cornell University to provide guidance on certain pleading standards in ERISA litigation claims, with oral arguments scheduled for January 2025....more
The Employee Retirement Income Security Act (ERISA) prohibits employers who offer health and welfare benefit plans from discriminating against plan participants on the basis of a health status-related factor, such as a...more
Plan administrators should review the following actions to be taken before the end of 2024 and focus on what to expect for 2025. The following checklist addresses plan amendments, notices, and other considerations for...more
The U.S. Supreme Court recently granted a petition for a writ of certiorari to review the U.S. Court of Appeals for the Second Circuit's decision in Cunningham v. Cornell University, 86 F.4th 961 (2d Cir. 2023). In doing so,...more
In 2021, the U.S. Department of Labor (DOL) issued 3 documents outlining guidance on cybersecurity practices for benefits plans, which we discussed in a blog post at the time. The DOL recently issued revised versions of the...more
On behalf of the ESOPs, Benefits & Compensation team, we hope your Summer is off to a great start. In the time of family vacations and out-of-office replies, the pace of employee benefits changes—both large and small—remains...more
The Department of Labor (DOL) has issued a new regulation defining fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and Section 4975 of the Internal Revenue Code of...more
The DOL recently finalized amendments to the QPAM exemption that will considerably alter the exemption’s conditions effective as of June 17, 2024 (for a detailed summary of the changes, please see our post here). There are a...more
The Department of Labor ("DOL") recently issued a regulatory package that includes a final rule updating ERISA's definition of an investment advice fiduciary and amending certain related prohibited transaction exemptions...more
What has changed with the U.S. Department of Labor’s (DOL) final regulations and certain prohibited transaction exemptions (PTEs)? Is it really that bad even for plan sponsors, as we hear from the many critics of the DOL’s...more
Following previous failed attempts to expand the fiduciary liability of financial services providers, the DOL released a new rule that broadens the definition of “fiduciary” under ERISA. The new rule is expected to face...more
Earlier this month, a Mayo Clinic employee filed a proposed class action against the clinic, arguing that the clinic’s employee health plan and its third-party administrator (TPA) Medica, underpaid for services performed by...more
As it is often said, “the only constant in the world is constant change,” so it is important for health plan fiduciaries to periodically review the fundamentals for consistency and compliance to avoid risk and costly...more
A recent decision by a federal district court in Ohio in a health plan benefits dispute highlights the importance for health plan fiduciaries to properly review benefit claim denials to ensure that the claims administrator’s...more
Most retirement plan sponsors know that ERISA - the federal law that imposes duties (and liability for breaching those duties) on certain individuals and entities that are defined as plan fiduciaries – is the primary source...more
The U.S. Securities and Exchange Commission (SEC) recently approved applications from large investment firms to offer spot bitcoin exchange-traded funds (ETFs). Retail investors can now buy bitcoin ETFs on traditional...more
This newsletter provides updates employers should be aware of heading into 2024, including an outline of the updated 2024 retirement and welfare plan limits, instructions related to the “gag order” attestation requirements...more
If you are serving as a fiduciary for your employer’s retirement plan, you have a duty under the Employee Retirement Income Security Act (ERISA) to act prudently. Engaging in prudent behavior is only the first step a plan...more
Retirement plans face increased risks for cyber-attacks resulting in theft of plan assets. Few entities can keep up with the pace set by cyber-criminals for theft from accounts, and security requirements for industries...more
The U.S. Court of Appeals for the Tenth Circuit issued its decision in Matney v. Barrick Gold of North America, et al. on Sept. 6, 2023, finding that participants in an employer-sponsored defined contribution retirement plan...more
ERISA’s prohibited transaction rules are notoriously complex and opaque. On August 4, 2023, the Ninth Circuit issued an important decision on those prohibited transaction rules that arguably conflicts with decision from the...more